In the ever-evolving business, tech disruption is the only constant. The pace of technological innovation is accelerating at an unprecedented rate, reshaping industries and markets with each passing day.
As a tech CEO, it’s your responsibility to steer your company through these turbulent times and lead it to success. To do so, prepare for the next tech disruption.
But before naming something the next tech disruption ask “Is it just today’s hype or tomorrow’s game changer?”. Think that in 1995, tech columnist Clifford Stoll dismissed the internet as “trendy and oversold.”
Examples like that made us think about today’s technologies and their future path. We conclude that besides they are still trendy, VR, and AR have a better chance than not to reshape businesses.
Thus, it would be irresponsible for a CEO not to recognize their innovative potential in organizational long-range planning. This set of trendy tools holds too much promise for companies not to cover their bets and begin exploring how the technologies can help move their business forward.
In this article, we’ll discuss the key strategies and principles that can help tech CEOs not only weather the storm but thrive in it.
3 keys to getting prepared for the next tech disruption
1- Like it or not, these technologies are here to stay
There are lots of technologies we could give as an example of disruptions like blockchain, machine learning or visual recognition. We’re going to analyze some of the most trendy: AI, AR and VR.
With their amazing ability to interpret data, generate insights, and continually learn, AI algorithms offer remarkable potential for improving business processes and customer experiences.
As for VR and AR, Apple made a big splash with its recent announcement of Apple Vision Pro. They call it the first spatial computer, able to blend augmented reality content with the physical world.
Meta’s virtual reality has seen better days since it was launched in 2021, but given the company’s track record of success, we wouldn’t bet against it.
We think that the chances are pretty high that these technologies will play a bigger role in our lives during the next decade, and if you’re a CEO, it would be a big mistake to ignore them.
2- The consumer trust is everything
“Today’s organizations must be able to demonstrate that their systems and algorithms are responsible, fair, ethical, and explainable. In a word, that their AI is trustworthy,” the World Economic Forum says. A Forbes Advisor survey shows that 76% of consumers are concerned with misinformation from AI tools, such as Google Bard, ChatGPT, and Bing Chat.
Businesses need to be well aware of possible trust gaps. They should never forget that customers are your guiding light in the storm of tech disruption.
Customers’ feedback should be at the heart of your decision-making process. They have to feel that their concerns are taken care of; remember that successful tech companies are built on the foundation of solving real-world problems for their customers.
3- Pay attention and be bold
Companies that stay updated and learn faster than the competition on how to use these technologies, will always stay ahead. This does not mean that it’s mandatory to use them. It’s important for a CTO be able to know when it’s just a trend and when it’s a big deal.
One piece of advice is that if you’re planning to use new tech, use the all-important stage between design and build to hear what customers are saying and set product-market fit.
You have to keep this thought with you as if you had it tattooed on your chest: “The companies that can deliver edgy, customer-validated innovations will always win, plain and simple. Paying attention to customers saying “This is what I want” will always overcome telling them “Surprise! Look what we got for you!”
Tech CEOs and CTOs have a big responsibility to lead their companies through the next wave of tech disruption. By embracing change, fostering a culture of continuous learning, building diverse teams, staying humble and listening to the customers, and preparing for cybersecurity challenges, you will always be prepared for whatever the future brings.
As these three suggestions show, there are moves your business can make to prepare for a technological future that is far from guaranteed but has enough potential to disrupt markets.
The risk of being left behind is too large, and the road ahead may be filled with uncertainty, but with the right strategies and principles, you can not only survive but also thrive.